I think $PNKSTR is severely undervalued right now.
Most people still see it mainly as a proxy for the Punks vault but Adam has consistently integrated PNKSTR buybacks into every new project.
At this point, it’s basically becoming the ecosystem token for the entire TokenWorks universe.
Probably worth taking a bet on it before more people start to realize that, especially before the 0.1% fee on every TTT trade kicks in.
This wallet dumped its remaining 11.5 million $PNKSTR. Before the dump, it bought 2 Strategy Punks from the floor, trying to benefit from the price increase but dumped all his coins before the protocol had even finished processing its purchases.
A wallet bypassing 10% fees via specific LPs has been dumping $PNKSTR for a while. They still hold 15M. Honestly, it’s satisfying to see those who hurt the protocol bleed at the bottom.
@BroknBons yes and dude was running side LP pools with his whole bag, bleeding fees away from the protocol. Good riddance, his full exit is absolutely bullish for the protocol.
A low price isn't a bug for $PNKSTR, it's a feature. The lower the price, the more coins get burned when the Punks are sold. After today's sales, nearly 7 million coins were permanently removed from circulation. That's 0.7% of the total supply.
A wallet bypassing 10% fees via specific LPs has been dumping $PNKSTR for a while. They still hold 15M. Honestly, it’s satisfying to see those who hurt the protocol bleed at the bottom.
@derekcsnook For me, the conversation around $pnkstr isn’t a matter of if it will happen, it’s purely a matter of when. im giga bullish on ETH and the Punks, $pnkstr acts as a leveraged narrative.
If you want a decentralized future, you shouldn't stay silent while North Korea steals millions. If you can freeze it, then freeze it; it’s that simple. Refusing to freeze these funds when you have the means isn't decentralization, it's stupidity. Well done, @arbitrum
The Arbitrum Security Council has taken emergency action to freeze the 30,766 ETH being held in the address on Arbitrum One that is connected to the KelpDAO exploit. The Security Council acted with input from law enforcement as to the exploiter’s identity, and, at all times, weighed its commitment to the security and integrity of the Arbitrum community without impacting any Arbitrum users or applications.
After significant technical diligence and deliberation, the Security Council identified and executed a technical approach to move funds to safety without affecting any other chain state or Arbitrum users.
As of April 20 11:26pm ET the funds have been successfully transferred to an intermediary frozen wallet. They are no longer accessible to the address that originally held the funds, and can only be moved by further action by Arbitrum governance, which will be coordinated with relevant parties.
@OlimpioCrypto I have two questions: 1. If this umbrella thing will be used, all $55 million worth of ETH invested there simply vanish? 2. If so, where will you find the gullible victims who will act as insurance for a 3-5% APY in the next hack?